Universal Access Plan

A goal without a plan is just a wish…

Creating solutions to help you on your journey is what we do. Knowing which product is right for you requires the help from a Financial Adviser. Explore your options below to find out how you might benefit from each of them.

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A solution designed for US Connected Persons

US Connected individuals often find it difficult to find the right solution due to the restrictions they face due to the reporting requirements on FATCA.

Veritas Life has partnered with Universal Access Plan in order to provide a suitable offshore solution for US connected persons planning for the long term.

The UAP is a Defined Contribution Retirement Benefit Plan written under contract which is approved by the Guernsey Income Tax Authority under section 157A(2) of the Income Tax (Guernsey) Law, 1975 which is established between the scheme manager as contracting party and the member by way of a pension contract, with the member assets segregated in a Protected Cell Company (PCC). The contract has been designed to reflect the specific needs of international US Citizens / US tax payers / members joining the Plan.

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Key Features

99 Year Term Offshore Bond

A capital redemption contract with a 99-year fixed term.

It will continue until the end of the term unless fully surrendered earlier.

At the end of the term, the bond has a guaranteed value of at least twice the initial premium amount you have paid*

*(less any withdrawals or surrenders)

Investment Freedom

Investment flexibility which may include a full range of asset classes

Investments in the scheme are not classed as PFICS by the IRS

Access to professional investment management and holistic retirement planning services

Contributions

Anyone aged 18-89 years can invest into the Veritas Life Investment Bond

No Limit on contributions – minimum account opening is $/€/£50,000

US/UK Allowances and Annual Allowance limits do not apply

Tax Efficient

Assets held within the UA Plan grow tax efficient manner

UK s58(1) (d) IHTA Compliant as such settled property is not deemed ‘relevant property’ for IHT purposes

No requirement for probate on death of the member

Assess to your money – Retirement age 55

Flexible options at Retirement

UA Plan proceeds pay out gross PCLS of up to 30% on retirement

Loans are permitted up to a maxi¬mum of 30% of the value of the UA Plan (tax advice should be sought before taking this option)

Support

Financial Adviser - Your dedicated financial adviser should be your first point of call and will have access to our full range support

Online - keep yourself up to date with policy valuation and performance through our user-friendly online portal.

Customer Service Team - you benefit from our experienced customer service and administration team in order to handle any queries relating to your plan

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